Redwire’s (RDW) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Redwire (NYSE:RDW) in a report issued on Monday, Benzinga reports. Cantor Fitzgerald currently has a $6.00 price target on the stock.

A number of other research firms have also recently weighed in on RDW. Alliance Global Partners raised their price target on Redwire from $7.00 to $8.25 and gave the company a buy rating in a research note on Tuesday, July 30th. B. Riley upgraded Redwire from a neutral rating to a buy rating and set a $8.00 target price on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Redwire presently has an average rating of Buy and a consensus price target of $7.65.

Redwire Price Performance

Redwire stock opened at $6.68 on Monday. Redwire has a 1-year low of $2.35 and a 1-year high of $8.23. The stock has a market cap of $438.07 million, a PE ratio of -9.28 and a beta of 1.96. The stock’s fifty day moving average is $6.40 and its two-hundred day moving average is $5.64.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million during the quarter, compared to the consensus estimate of $66.86 million. On average, research analysts expect that Redwire will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 56,516 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $7.64, for a total value of $431,782.24. Following the transaction, the director now owns 36,018,155 shares in the company, valued at approximately $275,178,704.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 238,732 shares of company stock worth $1,836,940 in the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in RDW. Bank of New York Mellon Corp increased its position in Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares during the period. LJI Wealth Management LLC purchased a new stake in Redwire in the 2nd quarter valued at approximately $258,000. Squarepoint Ops LLC boosted its holdings in Redwire by 59.4% in the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after purchasing an additional 26,543 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Redwire in the 1st quarter valued at approximately $59,000. Finally, Rhumbline Advisers boosted its holdings in Redwire by 64.7% in the 2nd quarter. Rhumbline Advisers now owns 32,335 shares of the company’s stock valued at $232,000 after purchasing an additional 12,703 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.